Credit portal




How credit is calculated

how is a credit rating calculated

What is a credit rating?

If you have a credit card, loans, catalogues etc. the way you manage them is reported to the credit reference agencies, Experian, Equifax and Call Credit, this builds your credit history and can be seen on your credit reference file. Your credit rating is based on your credit history.

If you've had CCJs or you've missed payments in the past, these will be recorded in your credit history and will affect your credit rating

Little or no credit history will affect your credit rating as much as past problems, as lenders won't be able to judge how well you manage credit

How is my credit rating calculated?

When you apply for credit, the credit card company or high street store will check your credit rating using information from a credit reference agency like Experian, Equifax or Call Credit. They give you a credit rating using a points system based on your credit history. If you get a poor credit rating, you may have trouble obtaining credit.

How did I get a poor credit rating?

The following may result in a poor credit rating:

  • County Court Judgements (CCJs)
  • Missed payments on borrowing
  • False information on credit applications

It could also be the result of a lack of credit history. For example, you may be new to credit, or haven't previously had credit in the UK.

If you're not on the electoral roll, it can affect your credit rating. Call your council to check if you're registered and sign up by going to the About My Vote website .

What can I do about a

poor credit rating?

If you're turned down for credit by a lender, ask them which credit reference agency they used to get your information. Write to that agency as incorrect information can be removed. The agency is under obligation to reply within seven days.

If you have a poor credit history, the next step is to rebuild your rating. See how to improve your credit rating here .

^ Credit Cards are not suitable for long-term borrowing or financing existing debt. Missing payments could have severe consequences and make obtaining credit more difficult.

Important: Credit is subject to: status; telephone contact; confirmation of name and address; not already holding a credit card issued by Vanquis Bank; no reasonable suspicion of fraud, and is only available to UK residents who are at least 18 years of age and are not legally restricted from obtaining credit e.g. because of bankruptcy. Please read the Summary Box. and Credit Card Terms and Conditions for full financial details.

Argos Credit Card is issued by Vanquis Bank Limited. Vanquis Bank can be contacted at its registered office at No. 1 Godwin Street, Bradford, West Yorkshire BD1 2SU. Registered number 02558509. VAT Number 180555952. Vanquis Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register No. 221156). In relation to the Argos Credit Card, Home Retail Group Card Services Limited (which is part of the Argos Group) acts exclusively with Vanquis Bank Limited. Argos Card, Thynne Street, Bolton, BL11 1AS. Registered Office: Home Retail Group Card Services Limited: Avebury, 489-499 Avebury Boulevard, Milton Keynes, Buckinghamshire, MK9 2NW. Registered in England no. 04007072.

Category: Credit

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